It is very clear why insiders are selling to any experience biotech trader. This is a good sign for us because this means a buyout by PFE is imminent. Let me explain, insiders own thousands and thousands of shares, if PFE were to buy us out at $12 a share imagine how much money those insiders would make. The taxes on that money would be astronomical so it is best to get out now and not pay those taxes. This means a buyout is imminent. As an experienced trader I would tell you newbies to hold on to your pants because it will be one great ride!
jab9, I am a long on ATRS and am desperately looking for a positive explanation to why these folks are selling. However, the explanation you provide is almost ridiculous. By your theory they would better loose 12-4=8 dollars per share just so that they can save on tax?? Are they govt haters??
However, I do have a feeling that the way these guys are selling each time it reaches 4, it is not pure "taking out the profits" and "lets get out before it goes back down". If I was in their shoes and had an idea to really take out profits "while I can" then I could easily let it rise a bit more before selling off my shares. Why would I consistantly set a target of 4 when the whole investor group (including us) have set a higher target.
Having said that your argument of "afraid they would owe more tax" is borderline rediculous.